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Shares of Wynn Resorts rebound, gain 2 percent

4 May 2015

Shares of Wynn Resorts Ltd. rebounded on Thursday, gaining $2.30, or 2.11 percent, to close at $111.07.

The gains came after a stunning sell-off on Wednesday that saw the company shed about $2.2 billion in market capitalization.

The gains also came in the face of down day on Wall Street. The Dow Jones industrial average lost 195 points or about 1 percent. The Nasdaq gave up 82 points or about 1.64 percent.

Wynn shares suffered the losses on Wednesday after the Las Vegas company had reported an unusual quarterly loss a day earlier. The company reported a first-quarter loss of $44.6 million, or 44 cents per share on revenue of $1.09 billion.

Most of the losses were attributable to the company’s Macau properties, which have seen a slump in gambling amid a government crackdown.

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